It is called a crater
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It is called the Earth's ORBIT around the Sun.
The steep walled depression surrounding a volcano vent is called the crater. In dormant volcanos, these may fill with water and become crater lakes.
Most volcanoes and earthquakes occur around the Pacific Ocean basin in a roughly horseshoe shaped ring called the Rim or Ring of Fire. This is where the seismic activity is most intense due to the movement of the tectonic plates.
The major branch of volcanoes is Geology.
The Ring of Fire