Impedance consequences
The typical TTL device output consists of two (NPN) transistors, connected from power to ground, with the emitter of the "upper" transistor going (through a diode) to the collector of the "lower" transistor, and its emitter to ground. The collector of the "upper" transistor is connected through a very small resistor, to the power (Vcc). The "output" is generally between the diode and the "lower" transistor. This output is "low impedance", which allows one unit to drive the inputs of several devices (fan-out). Those inputs are of relatively "high impedance", allowing several of them to be driven by a single output without overloading it.
When the output is in a "high" state ("1", "ON"), the upper transistor is turned ON and the lower transistor turned OFF. This means that current flow is from Vcc, through the output, to the input(s) of the following device(s), to ground. These inputs are of moderately high impedance, so that they don't draw an especially large current. In this condition (ON), the inputs serve as current sinks, and since they draw little current, several can be driven by a single output. The result is a "1" voltage from the output to the connected inputs.
When the output goes to a "low" state ("0", "OFF"), the upper transistor is turned OFF and the lower transistor turned ON. This means that current flow is now inward via the output, and goes to ground through the lower transistor. That current now must come from the inputs that follow (via their Vcc's). Again, since the inputs are of relatively high impedance, they will not overload the output that is connected to them, even though that output is almost a dead short to ground. (And, it doesn't take much current to control the inputs.) The result in this case, is a "0" from the output onto the connected inputs.
This type of output is referred to as a "Totem Pole" output. There is one caution in this design configuration; the low impedance of the output means that two such outputs must never be connected together. To understand this, consider the case in which two are connected and one goes to "ON" while the other goes to "OFF". The output that is ON is connected directly to Vcc, while the output that is OFF is connected directly to ground, creating a near dead short, and resulting (usually within minutes) in barbecued IC. (Besides, the logic may also be wrong, if not planned for.)
There are, however, cases in which we want to be able to connect outputs together. One such condition occurrs when it is desired to create a "wire-OR" case (which I suspect is rarely used these days). This is simply the case in which, rather than using an OR gate, outputs are tied directly together. I don't recommend it; it sometimes confuses the logic - mainly because it is rarely used. It can definitely create a circuit tracing nightmare (An invisible OR-gate) for a technician who must do maintenance. To do this, ICs with "Open-Collector" outputs are used (along with pull-up resistors).
A more common case comes up when it is desired to create a "Bus". This entity, which is very common in computer design and with similar units, simply allows an output to be "disabled" by putting that output into a "high-impedance" state. Several outputs may be connected each line in a bus, however at any time, only one can be enabled, thus keeping our rule intact. To accomplish this, we use what are called "Tri-State" gates, etc. These are simply IC devices, each of which has an input that allows its output to be disabled. All this input does is turn off Both transistors in the output of that device (no matter what the other inputs to that device are doing). As a result, if we follow our rule, and disable the outputs of all ICs that go to the bus line except the one chosen to be active, it will be the only one seen by the bus line, and there will be no conflicts. The high impedance output allows an IC to be 'hidden'. Then when we want it, we simply enable its output, and disable all the rest. I hope that this is understandable.
KM