CC refers to two things, Cubic Capacity and Cubic Centimeters, in regards to engines it usually describes the total volume of air and fuel being pushed through the engine by the cylinders `pi/4*bore^2*stroke*number of cylinders = total volume of chambers`
However, in the US they use cu which is cubic inches, however the rest of the world used metric, so yeah they used CC because that is a standard of measurement everyone used.
tl;dr it describes diplacement of volume by engine in a standard metric system of measurement to make the volume globally the same.
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