You need to make a sub account (child) and a master account (parent or guardian )
No. Not every game because their might be games available for Play Station Portable(PSP),PlayStation3(PS3),PlayStation Vita(PS Vita),and PlayStation 4(PS4)
Yes. PlayStation Network allows you to save your billing info (ie. a credit card) to your account, allowing you to buy games on the PlayStation Store on the PlayStation 3 and PlayStation Vita without the need for a prepaid card.
It stands for PlayStation Vita and 'vita' is Latin for 'life'.
No it is not a phone and communication is only within Playstation network see related link
The PlayStation Vita is a standalone system. You do not require a PlayStation 3 to use it.
PlayStation Vita was created on 2011-12-17.
LittleBigPlanet - PlayStation Vita - was created in 2012-06.
Playstation vita
Worldwide it would be the Playstation Network without a doubt. They have more membership than Xbox 360 has sold consoles. In the USA it might be closer because there are more Xbox 360 consoles, but the Playstation Network is free and has the PS3 and the PSP and PS Vita using the network.
The Playstation Vita
No it does not. Software for the PlayStation Vita is sold on a proprietary PlayStation Vita memory card rather than on Universal Media Discs (UMDs) used by the original PSPs.
The PS3 will not be able to play the PS4. They both are on the Playstation Network (PSN) and Playstation Plus will work for both of them as it does for the PS Vita and PS3