Characterization of the direct product of rings
I'm trying to understand the given characterization of direct products of rings. More specifically, I realize that given a direct product the statement holds, but how exactly does it characterize the direct product?
If there is any other ring $S$ satisfying the characterization, then $S$ is isomorphic to $\prod_{i=1}^n R_i$ via unique isomorphism. The proof is standard and works for any category where direct products exist.
These kind of characterizations are usually called universal properties.