What term describes a natural or artificial object that orbits a celestial body?

The term that describes a natural or artificial object that orbits a celestial body is 'satellite.' This designation applies broadly to any object, such as the Moon (a natural satellite) or artificial satellites launched by humans for purposes like communication, observation, and scientific research.

Understanding why 'satellite' is the appropriate term involves recognizing that it specifically refers to any entity that travels around a larger astronomical body, held in place by gravitational attraction. While comets and asteroids are types of celestial objects, they do not inherently involve the concept of orbital motion around another body as satellites do. Planets, on the other hand, are themselves large celestial bodies that orbit stars, thus they do not fit the definition of an object that orbits another body in the context provided. Thereby, 'satellite' effectively captures the essence of the definition required in the question.