I was studying field theory when a question came to my mind.
The essence of the question is in the title, what I'm looking for is the type of algebraic structure matching the ?. I'll elaborate on that a bit.
Given a commutative unitary ring A and a subset S of its underlying set, let's call P the unitary ring of polynomial with coefficients in A having a variable for each element of S. The unitary subring of A generated by S turns out to be the image of the evaluation morphism from P to A mapping each variable to the corresponding element. This is linked to the fact that P is the (or 'a', to your taste) free commutative unitary A-algebra generated by (a set equipotent to) S (namely, the set of variables).
My question is the following: how can one similarly interpret the circumstance of considering fields instead of commutative unitary rings, and generated subfields instead of generated unitary subrings? I know that a subfield generated by S may be viewed as the set of evaluations of algebraic fractions with coefficients in K evaluated in elements of S, which is, in turn, (isomorphic to) the quotient field of P, but is that a sort of free structure somewhat generated by the variables? Or has it any universal property (additional to the universal property of quotient fields)? Or is there any other kind of structure underneath, better explaining the situation?