Question

Markets exist wherever _____ and _____ exchange goods and services.

buyers, sellers
producers, entrepreneurs
sellers, producers?

Answer 1

The answer would be your first option, buyers and sellers.

Answer 2

Markets exist wherever Buyers and Sellers exchange goods and services.

sellers , producers , and entrepreneurs usually refer to the same player, the one who make/provide the goods/services.

Meanwhile, buyers refer to the one who consume the goods and services. So the correct answer is the 1st option