Eduardo has it correct but I thought I would just add a little meat to the conversation.
Before AutoCAD 2008 you had to draw your dimensions in the model space at a height that would be visible when printed on the layout. So text would have to be drawn at i.e. 6" or 2' high in the model space, depending on the scale of the resulting output. Annotation Scaling was introduced to AutoCAD and AutoCAD Architecture in version 2008. This scaling function is equivalent to what has been in ArchiCAD for several years (I assume since the beginning but some of our veteran users would have to verify that since I can only verify back to AC7-2001.)
In ArchiCAD, when you change the scale in Model views the annotative elements (text, markers, dimensions, etc.) will enlarge or decrease with relation to the model [EDIT: inverse of what ER said but effectively the same]. When you change the scale of a Paper element such as a drawing on a layout (open the drawing settings to change the scale of a drawing) the scaling effects the annotative elements and model elements the same, essentially resizing the drawing graphically.
Here is our Help doc on the topic: file:///Applications/Graphisoft/ArchiCAD%2016/Help/Files/wwhelp/wwhimpl/js/html/wwhelp.htm#href=01_Configuration.04.18.html
Best regards,
