The Product Settings section are located in Settings>General Settings in the Admin
Show product availability?
This option determines if you want to show the inventory levels on your store's product details page. If this option is disabled, no inventory or instock displays will be shown for the products.
Default Sorting Method
Determines the default sorting method for your product results collection.
Default Sort Order
Determines the sort order of the default sorting method (ascending or decending)
Category & Search Results Product Display Count
Sets the default number of products that will display in category and search results on your store. This setting will not override the template if there is a default size set in your template code.
Featured Product Display Count
Sets the number of featured products displayed. NOTE: Some pre-built templates override this setting for display purposes.
Cross-Promote Display Count
Sets the number of cross promoted products displayed on the products details page. NOTE: Some pre-built templates override this setting for display purposes.
Product Review Settings
Sets if product reviews are enabled for your products, approval of reviews and notification of pending reviews.
Image Formatting Method
See the illustration below for the difference between constrained images and fixed image sizes
*changing this setting will only affect new images. Existing images will not update when this setting is changed.
The image on the left uses the "Contstrainted Image Size". This has maintained it's original proportions.
The image on the right uses the "Fixed Image Size". This will always make a square image and add white space if needed to the sides, top or bottom of the image.