The App Compat Support Library package contains several libraries that can be included in your application. Each of these libraries supports a specific range of Android platform versions and set of features.
Description:
There are several libraries designed to be used with Android 2.1 (API level 7) and higher. These libraries provide specific feature sets and can be included in your application independently from each other.
Note: This library depends on the v4 Support Library. If you are using Ant or Eclipse, make sure you include the v4 Support Library as part of this library's classpath.
Here are a few of the key classes included in the v7 appcompat library:
ActionBar - Provides an implementation of the action bar user interface pattern. For more information on using the Action Bar, see the Action Bar developer guide.
AppCompatActivity - Adds an application activity class that can be used as a base class for activities that use the Support Library action bar implementation.
AppCompatDialog - Adds a dialog class that can be used as a base class for AppCompat themed dialogs.
ShareActionProvider - Adds support for a standardized sharing action (such as email or posting to social applications) that can be included in an action bar.
https://developer.android.com/tools/support-library/features.html