Point of view refers to the perspective from which a story is told. There are three main points of view: first person, where the narrator is a character in the story; third person limited, where the narrator can only access the thoughts of one character; and third person omniscient, where the narrator knows everything about all characters. The point of view affects what information the reader receives and how they understand the story. It's important to consider the reliability and knowledge of the narrator telling the story.