These types of puzzles are known as charades. What you have to do is to find two words that are referred to in the first stanza and the second stanza and put them together to form the third word in the third stanza.
Just for example, if my first refers to 'off' and my second refers to 'ice', then my whole will be the 'office'.
My first is present - future's past -
A time in which your lot is cast.
My second is my first of space
Defining people's present place.
My whole describes a lack of site -
A place without length, breadth, or height.
An octopus has 8 legs. A hippogriff has 6 legs and 2 pairs of wings. A sphinx has 6 legs and one pair of wings. Now we have all 3 kinds and a total of 18 insects in a cage. We have a total of 118 legs and 20 pairs of wings. How many insects do we have of each kind?
There is a wide field of corn. A goose finds its way into the field and starts running. Can you find out till which point the goose can run into the field?
You have 10 balls with you. A friend of yours out of nowhere asks you to place those ten balls in five lines such that each of the lines has exactly 4 balls on them. He needs to check your intelligence. Prove him by doing the task.