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Is that an AMD processor or an Intel processor?
Providing this basic info will get you an answer much faster...
Both processors use less than 100w and the GPU probably uses around 200w under load... so, the 500w power supply may be ok.
It will bottleneck performance badly, and "power supply 500w" is meaningless, we need make and model.
Depends on the game, most will run just fine but some are hugely dependent on single core performance, those will probably struggle quite a bit (mostly DX11 titles).
500watts *should* be ok although as already stated the manufacturer, quality of the capacitors and stable power on the 12volt rail all make a big difference, more so than just the plain old wattage