The term for the space around an object that can exert force is known as a field. Fields can be gravitational, electric, magnetic, or other types. For example, a gravitational field surrounds a mass, exerting a force on other masses within its vicinity, while an electric field surrounds charged particles, influencing other charges around them. The concept of fields is essential in understanding the interactions of forces in physics and helps describe how objects influence one another at a distance.