Final answer:
Multiple forms of a gene produced by mutation are known as alleles, with the most common type in a population called the wild type. Allelic variations are important for genetic diversity and can impact characteristics, including the development of certain diseases like cancer.
Step-by-step explanation:
The term given to multiple forms of a gene that are produced by mutation is alleles. While Gregor Mendel's work implied the existence of only two alleles for a gene (one dominant and one recessive), modern biology recognizes the presence of multiple alleles within a natural population. Each individual, however, can only carry two alleles of a single gene. The most common phenotype or genotype in a population is known as the wild type, and all other forms are considered variants or mutants, potentially leading to diverse phenotypic expressions. These multiple alleles exist at the same relative locations on homologous chromosomes and exhibit variations in characteristics due to mutations that alter the DNA sequence.
Such genetic diversity within a population can lead to the expression of many different traits and plays a significant role in the process of evolution and adaptation. Moreover, mutations in certain regulatory genes are known to contribute to the development of diseases, such as cancer, due to uncontrolled cell division resulting from dysfunction in tumor-suppressor genes and proto-oncogenes.