Vectors
Usually we are not really interested in the exact placement of a directed line segment on the (x, y) plane, but in the length and direction of . These can be determined by the x and y components of . We are thus led to the notion of a vector.
DEFINITION
The family of all directed line segments with the same components as will be called the vector from P to Q. We say that represents this vector.
Since all directed line segments with the same components have the same length and direction, a vector may be regarded as a quantity which has length and direction.
Vectors arise quite naturally in both physics and economics. Here are some examples of vector quantities.
Position |
If an object is at the point (p1,p2) in the plane, its position vector is the vector with components p1 and p2. |
Velocity |
If a particle is moving in the plane according to the parametric equations x = f(t), y = g(t), the velocity vector is the vector with x and y components dx/dt and dy/dt. |
Acceleration |
The acceleration vector of a moving particle has the x and y components d2x/dt2 and d2y/dt2. |
Force |
In physics, force is a vector quantity which will accelerate a free particle in the direction of the force vector at a rate proportional to the length of the force vector |
Displacement (change in position) |
If an object moves from the point P to the point Q, its displacement vector is the vector from P to Q. |
Commodity vector |
In economics, one often compares two or more commodities (such as guns and butter). If a trader in a market has a quantity a1 of one commodity and a2 of another, his commodity vector has the x and y components (a1, a2). |
Price vector |
If two commodities have prices p1 and p2 respectively, the price vector has components (p1, p2). The components of a commodity or price vector are always greater than or equal to zero. |
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Example 1 |
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Example 2 |
We shall now begin the algebra of vectors. In vector algebra, real numbers are called scalars. We study two different kinds of quantities, scalars and vectors.
The length (or norm) of a vector A is the distance between P and Q where represents A. The length is a scalar, denoted by |A|. If A has components a1 and a2, then the length, shown in Figure 10.1.5, is given by the distance formula,

The length of a position vector is the distance from the origin. The length of a

Figure 10.1.5 Length of a Vector
velocity vector is the speed of a particle. The length of a force vector is the magnitude of the force. The length of a displacement vector is the distance moved. For price or commodity vectors, the notion of length does not arise in a natural way.
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Example 3 |
The vector with components (0, 0) is called the zero vector, denoted by 0. The zero vector is represented by the degenerate line segments . It has no direction. The length of the zero vector is zero, while the length of every other vector is a positive scalar.
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