Object Space (also known as Object Coordinates)
In these conventional coordinates, the objects are described relative to a local origin,
typically [0 0 0].
For example, a cube can be placed at the origin in one of its vertices, or at the center of the cube.
Next, we may rotate and scale ther cube to adjust its initial appearance.
World Space
We may now need to move our cube relative to some global origin, which represents our 3D world.
View Space (Camera Space)
We shall now decide where the observer of our world is positioned. For this we can scale, rotate, and move around the entire world.
(Image from matrix44.net)
See also: Chapter 7. World in Motion article from Learning Modern 3D Graphics Programming tutorial