The term ARCTIC OR PACIFIC refers to two of the world's five major oceans. The Arctic OCEAN is located in the northern hemisphere and is the smallest and shallowest of the five oceans. It is surrounded by the continents of Europe, Asia, and North America. The Pacific OCEAN is the largest and deepest of the five oceans and is located in the southern hemisphere. It is bordered by the continents of Asia, Australia, and the Americas. The answer to the crossword puzzle is OCEAN, which is a five-letter word that describes both the Arctic and Pacific Oceans.