Finitary sketches, i.e., sketches with finite-limit and finite-colimit specifications, are proved to be as strong as geometric sketches, i.e., sketches with finite-limit and arbitrary colimit specifications. Categories sketchable by such sketches are fully characterized in the infinitary first-order logic: they are axiomatizable by σ-coherent theories, i.e., basic theories using finite conjunctions, countable disjunctions, and finite quantifications. The latter result is absolute; the equivalence of geometric and finitary sketches requires (in fact, is equivalent to) the non-existence of measurable cardinals.

Finitary quasivarieties are characterized categorically by the existence of colimits and of an abstractly finite, regularly projective regular generator G. Analogously, infinitary quasivarieties are characterized: one drops the assumption that G be abstractly finite. For (finitary) varieties the characterization is similar: the regular generator is assumed to be exactly projective, i.e., hom(G, –) is an exact functor. These results sharpen the classical characterization theorems of Lawvere, Isbell and other authors.