No, a vector in 3-d space would normally be resolved into 3 components. It all depends on the dimensionality of the space that you are working within.
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A vector can have as many components as you like, depending on how may dimensions it operates in.
Any vector can be "decomposed" into components along any two non-parallel directions. In particular, a vector may be decomposed along a pair (more in higher dimensional spaces) of orthogonal directions. Orthogonal means at right angles and so you have the original vector split up into components that are at right angles to each other - for example, along the x-axis and the y-axis. These components are the rectangular components of the original vector. The reason for doing this is that vectors acting at right angles to one another do not affect one another.
No a vector may not have a component greater than its magnitude. When dealing with highschool phyics problems, the magnitude is usually the sum of two or more components and one component will offset the other, causing the magnitude to be less then its component
You must find the x and y components of each vector. Then you add up the like x components and the like y components. Using your total x component and total y component you may then apply the pythagorean theorem.
It is the rate of change in the vector for a unit change in the direction under consideration. It may be calculated as the derivative of the vector in the relevant direction.