Welcome to GW!
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First, I don't understand the mission/quest thing. What's the difference? Which do I need to do? And so on?
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You make the storyline progress by doing missions. Missions are often linked to each other by primary quests - these will get their own section in your quest log so you can more easily see what you need to do to get to the next mission. Quests are there to help fill you in on other, little parts of the game storyline. Quests are optional, although doing them can get you some nice rewards and help you level up faster.
Another difference between the two is deaths. During a quest, if your whole party dies you will be resurrected at the nearest resurrection shrine and can continue on as normal. If your whole party dies during a mission, you will fail the mission and have to start the mission all over again from the beginning.
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Second, is there an auction house in this game?
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Unfortunately, we don't have an auction house. There is a possibility that we'll be seeing one in GW2, but I wouldn't expect one to be added to the current GW games. For now though, there is a trade channel and a party search system that lets you advertise the things you have for sale and ask others if they have something specific that you want to buy.
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Third, how do I know what a good build is for my character or weapons to use?
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As you say you're low level, there's no real need to worry about builds yet. Play about with the skills that you have and see what works best for you (this will help you design your own builds later).
For build ideas, you can check out the Campfire forum here, and another resource you could use is the
PvXWiki.
Finally, there is one website that you should visit and add to your bookmark list - the
Guild Wars Wiki. This site is an incredible resource and has information about pretty much everything you could ever want to know about GW.