The CPU fetches instructions from memory, decodes them, and executes them. It has components like the ALU for arithmetic, registers for temporary storage, and a control unit for coordination. The program counter tracks the location of the next instruction to execute. Linkers incorporate subroutine addresses into programs. DLLs allow programs to access common code libraries to perform tasks like printing without loading the full code. Compilers translate to machine code for faster execution, while interpreters identify errors in real-time but run slower.