Perspective Drawing:

If you look at a straight road, the parallel sides of the road seems to meet at a point. This point is known as the vanishing point and has been used to add realism to art since the 1400's. If you want to draw a railway track that vanishes into the distance,rays from the points a given distance from the eye along the lines of the tracks are projected to the eye. The angle formed by these rays decreases with increasing distance from the eye. The picture below shows an overhead view of someone looking down the the track.
source;http://mathforum.org/sum95/math_and/perspective/perspect.html
Isometric Drawing:

Isometric Drawings is a 3D drawing. 3 sides of the object is shown in the drawing. We need to draw all the vertical lines at 90degree and all horizontal lines at 30 degree to the base line when drawing isometric drawing.
Oblique Drawing:

Oblique drawing is the most complicated 3-D drawing but the easiest to master. Oblique is not really a 3-D drawing but a 2-D view of an object with 'forced depth'.When using the oblique method, the side of the object you are looking at is drawn in 2-D. The other sides are drawn at 45 degrees but instead of drawing the sides full size, they are drawn with half the size. Creating a 'forced depth' realism to the object. Even with this 'forced depth', oblique drawings look very unreal. This causes it to be hardly used by professional designer and engineers.
Orthographic Drawing:

Orthographic Drawing is drawing about physical objects. House plans is a form of orthographic drawing. Orthographic drawings are different views of an object. An orthographic drawing is only one side. It takes a few drawings to show the whole object. It is useful to look at isometric drawings before doing orthographic drawing as it shows several sides at the same time. A lot of people find isometric drawings easier to understand.