Final answer:
The term 'obstacle' describes something that prevents a character from reaching their goal and fits the description of an 8-letter word. It applies to characters like antagonists in literature and barriers to entry in business contexts.
Step-by-step explanation:
The term that describes something that prevents a character from reaching their goal, and that consists of 8 letters as per the options provided, is 'obstacle.' An obstacle can be a character, object, or situation that stands in the protagonist's way. In literature, for example, an antagonist is a type of obstacle as they are a character or group that is in opposition to the protagonist, often creating conflict within the story. Likewise, in the business world, barriers to entry are obstacles that prevent or discourage new competitors from entering a market due to legal, technological, or market forces. These serve as examples of how obstacles play a crucial role in both narrative development and real-world economics.