Why do markets exist?

to help producers dump unwanted products

to give consumers a place to sell their products

to provide the government a place to enforce efficiency

to provide a place for people to trade goods and services

To provide a place for people to trade goods and services

Markets exist to provide a place for people to trade goods and services. It makes life more convenient as you would go to one place to find what you need instead of scouting the town or city for goods/services.

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.