Final answer:
Heritability as a population concept tells us about the genetic basis of population-wide traits, whether traits have a genetic basis, and the degree of inbreeding in a population.
Step-by-step explanation:
Heritability as a population concept tells us nothing about the individual, but tells us about the genetic basis of population-wide traits. It gives insight into whether traits have a genetic basis and the degree of inbreeding in a population. Heritability also helps us understand the frequency of beneficial alleles and the effect of chance on a population's gene pool.