Really basic engine questions!

Had lots of these motors. yours should have a plastic "pull to choke" button through the panel, it's a square shaft that goes through your panel and goes onto the metal lever. the socket is from the lighting coil, if it was electric start (as some of these were) it may or may not be rectified to dc for charging. the button with the red cap is the stop button, this earths the coils momentarily to top the motor.
 
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