Genetics is the scientific study of heredity, focusing on traits and their variations driven by alleles, genes, and the principles established by Gregor Mendel. Key concepts include dominant and recessive traits, genotype (genetic makeup) vs. phenotype (physical appearance), Punnett squares for predicting trait inheritance, and the complexities of incomplete dominance, codominance, multiple alleles, and polygenic traits. Overall, genetics explains how traits are passed from one generation to the next and the variability present within populations.