The documentation on server-side queuing does not explicitly state whether each action gets its own execution context. Neither do the docs on Apex Transaction. The Trailhead on execution context sides lightning actions with visualforce but does not mention them again.
I was researching the Apex Singleton Pattern (here, here, and here) initially since many of my components need to query for the same config/setup settings. This got me wondering if there was a use case in lightning. Which lead to this question about execution context / queuing of lightning actions.