Final answer:
Continuous exercise requiring oxygen exchange for muscle performance is called aerobic exercise, which is designed to improve cardiovascular endurance and muscle toning with activities like cycling and swimming.
Step-by-step explanation:
The type of continuous exercise that requires the exchange of oxygen for muscles to perform is known as aerobic exercise. This form of exercise involves using muscles at less than their maximum contraction strength but for extended periods of time, relying heavily on the aerobic energy-generating process. Aerobic means "relating to, involving, or requiring free oxygen", and these exercises are designed to improve cardiovascular endurance and muscle toning. Examples include activities such as cycling, swimming, brisk walking, and tennis, which use a high percentage of slow-twitch muscle fibers and consume a large amount of oxygen.