1. The problem is to find the product of 800 and 500. 2. The formula for multiplication is: $$a \times b = c$$ where $a$ and $b$ are the numbers to multiply, and $c$ is the product. 3. Applying the formula: $$800 \times 500 = ?$$ 4. Multiply the numbers: $$800 \times 500 = 400000$$ 5. Therefore, the product of 800 and 500 is 400000.