cardinality of elements in a "semiring minus multiplicative identity"

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In a theory that has all axioms of semiring except multiplicative identity axiom, will there be a model of the theory that has infinite elements? The model must violate multiplicative identity axiom.

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Sure, take $2 \mathbb{Z}$ or $2 \mathbb{N}$. With products and other standard constructions you can construct as many examples as you want.

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You can pick any infinite ring.