Local vs World vs View vs Screen Space

To explain all these spaces, I'll use a 2D view but the same thing applies in 3D

Everything starts in local space, relative to 0, 0, 0. This is how the mesh was stored in the file.

If you rendered everything in local space they would be stacked on top of each other like this

Next they are transformed to world space. This is what you imagine the world looking like, with everything in place, with rotation and scale.

The world space coordinates need to be converted to screen coordinates, which is much easier to do when everything is relative to the camera

So the next step is view space, where everything is relative to the camera

Last is screen-space, where everything is flattened and scaled down