it could be a number of things if you have only just bought it was it running ok before ,as sparticus said plugs clean and gaped and all sparking ,fuel filter , stuck choke , stuck float could be dirt in a small hole in carb ,have you checked to see if its drawing air through the carb gasket where it bolts to the engine ,even stuck or worn reed valves ,how about fresh fuel and correct oil ratio if its been stood a while the petrol might have evaporated and left more oil behind. or fuel pump not working just right or the airvent closed on the tank .
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