Some systems include an "economizer mode", which is sometimes called a "free-cooling mode". When economizing, the control system will open (fully or partially) the outside air damper and close (fully or partially) the return air damper. This will cause fresh, outside air to be supplied to the system. When the outside air is cooler than the demanded cool air, this will allow the demand to be met without using the mechanical supply of cooling (typically chilled water or a direct expansion "DX" unit), thus saving energy. The control system can compare the temperature of the outside air vs. return air, or it can compare the enthalpy of the air, as is frequently done in climates where humidity is more of an issue. In both cases, the outside air must be less energetic than the return air for the system to enter the economizer mode.
Our unit is 16 years old and we've had it checked out recently since it seems to be running excessively. Over all the tech says it is putting out well; it's the correct size, we have no shade and we've been having extreme heat with high humidity. The info you provided is very helpful and will help us make an informed decision when the time comes. Thank you so much.
AC units and thermostats have built-in delay features when they're shut down and then repowered. The delay can be as long as 10 minutes. And, if you've subscribed to an energy-saving device from your local power utility, the unit can take even longer to reset. If you've installed the parts shown and reinstalled the disconnect block, repowered the circuit breaker, turned on the switch at the furnace, moved the thermostat to AC mode and lowered the temperature below the indoor temperature, and the unit doesn't fire up after 30 minutes, it's time to call a pro.
In addition to the information below, see these two articles for the general care and maintenance of your air conditioner: Preparing Your Air Conditioner for Summer and How to Replace Furnace & AC Filters. Most noteworthy, you should replace the filters at least twice a year, before the heating and cooling seasons. For information on furnace problems, please see Furnace Not Working.