There are pages and pages of things that can cause a check engine light. You need to have it checked with a scantool. Then the code can be diagnosed and repaired.
It tells you after a minute or two Don't worry!.. if not though try it again!
Either will do, it depends on the preference of the writer. Though some say that the 'standard' depends on the kind of citation used. :)
Check your fuel pump.
The engine could be overheating and stalling, or it could be the drivetrain system. Whatever it is I would highly consider taking it to a trained automachanic.
Yes they can serve two terms
Not if it is never to be driven on the road again.
There are a couple possibilities, mostly associated with tune-ups. It depends a lot on whether the engine is injected or has a carburetor.
Usually a negative feedback loop is employed from output to input of a machine.. The Watt's governor of a steam engine is an example. As the engine starts to over speed spinning balls in the governor driven by the flywheel progressively close the steam valve. The engine slows, the balls fall and the steam pipe opens again. A compromise is maintained between the two states.
Check the tensioner pulley the bearings mak be going bad but only make noise at high rpms, at any rate it sounds like something that is driven by a belt does not want to spin as fast as the engine.
EEC not sensing engine rotation signal shutting off fuel pump power with no fuel pressure engine will stall close to immediately as you are experiencing.
Change the oil and filter and let the engine get up to operating temperature. Replace the oil and filter again if it shows signs of dirt. if possible get one of those magnetic oil drain plugs that will pick up metal particles from the oil.
Weight your sample Heat in an oven then weight them out again, when this weigh is constant then its done.