Here is an example of a vertical lookup:

The function VLOOKUP uses three, with an optional 4th, variable.
=VLOOKUP(search-for,columns-range,return-column,)
Search-for: is a either a value (normally a numeric value but maybe other types as well) which is used as a key. The optional 4th parameter allows for exact match or closest match
columns-range: is a block of cells (the orange ones) that contain the key column and 1 or more additional columns with values to return.
return-column selects which column is to contain the return value of the corresponding row as the key.
When you perform a vertical lokup you search through the first column for the "search-value" or key. When you find and exact match (or closest value, depending on the 4th parameter) the value in the same row but in the requested column is returned.
I Hope this helps