[Elecraft] I/Q

[Rstafford12]

I am having trouble with I/Q modulation. 
1) Do the I and Q components have a frequency, or are they just amplitudes. I would suspect the former.
2) How is the change in the phase difference for the I and Q symbols, compared to the reference frequency (carrier?)  determined? I believe I understand the math, but I don’t believe this is a Faraday statement that what you can see/sense can correspond to a physical model, but beyond that math has to do.
Sorry if the is too basic, but I am really trying to understand my KX3 and PX3.
Richard