Statement (1) Three numbers do not change value when raised to the third power: -1, 0, and 1. Since P could have any of those values, we do not know if P is positive. This statement alone is insufficient.
The correct answer will be among B/C/E.
Statement (2) If |P| = P, then P cannot be negative. Be careful: "not negative" is not the same as positive! 0 is neither positive nor negative, and satisfies this statement. P could be positive or 0, so this statement is not sufficient.
Statement (1 & 2)
Combining these statements tells us that P can only be 0 or 1, which means that P can be positive or 0. The statements together are insufficient.
The correct choice is E.