This describe field settings PER Product. If you want to set global field settings click here.
The product field settings in the product record will let you control which fields are active for this product only. There are global settings which control which fields are available by default when you create a new product. This allows you to turn on and off specific fields PER PRODUCT
Order Fields
You can change the order of fields for this product only
Remove Fields
You can remove fields for this product only
Add Fields
You can Add Fields for this product only