Solve the Decimal Division: 0.5 ÷ 500 Step by Step

To solve this problem, we'll follow these steps:

• Step 1: Convert $0.5$ to a fraction if necessary.
• Step 2: Divide $0.5$ by $500$ using decimal division or treat $0.5$ as $\frac{1}{2}$.
• Step 3: Simplify the result to a standard decimal number.

Now, let's work through each step:
Step 1: The number $0.5$ can be considered as $\frac{1}{2}$. However, dividing directly $0.5 \div 500$ is suited here.
Step 2: Express this division as a multiplication: $0.5 \times \frac{1}{500}$.
Simplifying, we have: $0.5 \times 0.002 = 0.001$ Hence, the computation as division directly: $\frac{0.5}{500} = 0.001$

Step 3: Utilize division to achieve a simpler form, yielding the decimal $0.001$.

Thus, the solution to the problem is clearly established as $0.001$.