The term RACETRACK PATH is composed of two words, the first being 'RACETRACK' and the second being 'PATH'. The crossword solution for the first word is OVAL, which is a four-letter word. An OVAL is a shape that is similar to a circle but has two long curved sides. It is often used to describe a RACETRACK, as it is the shape of the track. The second word, 'PATH', refers to the route taken by a vehicle or person around the RACETRACK. Together, the two words form the term RACETRACK PATH, which is the route taken by a vehicle or person around a RACETRACK in an OVAL shape.