First construct every finite product in a category by iterating binary products in a category; the empty product is the terminal object. Let be a diagram in a category with finitely many objects and arrows. Form the finite products in a category
Define by their components
Take their equalizer . Its components satisfy , so they form a cone over a diagram.
For any other categorical cone , the product in a category property supplies a unique with . The cone equations imply , so the equalizer property supplies a unique with . These are exactly the required equations , with uniqueness. Thus is a categorical limit. For empty , both products are terminal and this construction still gives a terminal limit. All finite limits exist.
Use the explicit construction of small limits from products and equalizers from part (i), here with finite indexing sets. If preserves finite products in a category and equalizers, then and , with their image projections, are the products of the objects and of the target objects indexed by arrows of .
The image maps have components
Also is their equalizer. Therefore the same universal property proof makes , with projections , a categorical limit of . Any other chosen limit of is uniquely isomorphic to this construction, and the functor carries that isomorphism to an isomorphism. Consequently preserves every finite limit. Preservation of finite products includes the empty product, so the terminal object is also preserved.
Given , their product in a category is the pullback of the unique arrows , where is a terminal object. Having constructed this product in a category, define the equalizer of as the pullback
where is the categorical diagonal. A map factors through this pullback exactly when : the accompanying arrow to must equal this common composite. The factorization is unique, proving the equalizer property.
Thus the hypotheses give a terminal object, binary products in a category and all equalizers. Part (i) now gives all finite limits.

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