Final answer:
A mutation involving only one nucleotide is called a point mutation, which can include substitutions, insertions, or deletions of a single base pair and can have a range of effects on the genetic code.
Step-by-step explanation:
The name for a mutation that involves only one nucleotide is a point mutation. Point mutations include the substitution of a single base nucleotide with another nucleotide. These mutations may result in changes to the genetic code of an organism and can be of several types, including silent mutations, missense mutations, and nonsense mutations.
An example of a point mutation is changing the codon UUU to UCU. Point mutations can have a wide range of effects, depending on how they alter the genetic code. Deletion of one nucleotide can lead to a frameshift mutation, where the entire reading frame of the gene is altered, typically having a more severe impact on the protein product.