Perspective / Prospective

These two terms are frequently confused, but their meanings are highly different from each other. The most common use of "perspective" is to mean "point of view":

Pickett explained the problem of poverty from a socialist perspective.

"Prospective" means "expected or likely to happen":

The National Agricultural Statistics Service publishes data projecting the prospective plantings for crops each year in the United States.

The university requires prospective students to apply by February 1.