Question. Is there an accepted name for algebraic structures that, like $\mathbb{Q}_{>0}$ and $\mathbb{R}_{>0}$, are models of the algebraic theory presented as follows?
Sorts: $U$
Functions: $$+ : U \times U \rightarrow U$$ $$1 : U, \qquad \times : U \times U \rightarrow U, \qquad x \mapsto x^{-1} : U \rightarrow U$$
Axioms:
$+$ is commutative and associative,
The multiplicative structure forms an abelian group
Multiplication distributes over addition.
Examples.
- $\mathbb{Q}_{>0}$ (which is the initial such algebra)
- $\mathbb{R}_{>0}$
- $\mathbb{Z},$ with the symbol $\times$ interpreted as $+_\mathbb{Z}$, the symbol $1$ interpreted as the element $0_\mathbb{Z}$, the notation $x \mapsto x^{-1}$ interpreted as $x \mapsto -x$, and the symbol $+$ interpreted as either max or min.