Hello!

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1. Why does Earth rotate around the sun in a particular orbit and what factors contribute Earth to stick in the orbit.
As far as current physical theory can describe, the solar system (including the Earth) formed from a large cloud revolving around the Sun several billion years ago. The Earth was formed as a piece of this cloud was pulled together slowly by gravity. (see
this video and
this other video on YouTube for an OK but not perfect description of these events)
The force that caused this cloud the resulting Earth to orbit around the Sun is gravity. It pulls the Earth toward the Sun and the motion of the Earth forward keeps it from falling into the Sun. (see
this video for a good description of this)
The Earth won't slow down and fall into the Sun because nothing will ever slow it down. If something doesn't slow something down, it will keep moving the same way it always has - forever. (This is called Newton's First Law of Motion.) So Earth stays "stuck" in its orbit.
2. Why does Earth has to revolve on its axis is it to maintain the magnetic field around the Earth or is there any other reason.
The Earth's revolution on its axis probably isn't what produces the magnetic field. Most likely, the Earth's magnetic field is created by the motion of the liquid in the Earth's outer core.
3. How to black holes rotate and suck gases from the external surface of the near by star and due to superheated gases black holes emit x rays is it true.
4. How can black holes rotate so fast and how to suck in the hot gases from stars as the space has no air?
The first thing you really need to understand before I can answer these questions is that black holes are not really all that different from any other object in the universe. They have gravity, mass, and don't "suck" anything toward them any differently than the Earth sucks on the Moon or the Sun sucks on the Earth. You would get a black hole if you took all the matter in the Earth and mashed it into a ball the size of a marble. That's why black holes are so powerful - they just have really strong gravity in a small space.
If the sun were suddenly turned into a black hole with the same mass as the sun, the planets would continue orbiting just like they do now.
So...how do black holes rotate and suck gas from the surface of nearby stars? Black holes rotate for the same reason the Sun and the Earth rotate - the object that formed them was spinning before it turned into a black hole. They pull gas in from nearby stars because the mass of the gas is attracted to the mass of the black hole by gravity - just like the Moon is attracted to the Earth.
There is "air" in space - you just said so yourself: the "air" is the hot gas coming from the star! That "air" (the hot gas) gets pulled into the black hole by gravity just like I described above. Of course, the gas around a star isn't as dense as the air in the Earth's atmosphere but it's still there. The Earth's atmosphere is just the gas that Earth's gravity is holding down on the surface. The gas a black hole may be sucking from a nearby star is just the "atmosphere" of the star - the "air" around the star.
I hope those answers help! Let me know if you have any questions about what I said.

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