Pleiotropy refers to a phenomenon where:

A single gene exhibit multiple phenotypic traits

The correct answer is Option (1) - A single gene exhibitmultiple phenotypic traits

When a single gene can exhibit multiple phenotypic expression such a gene is called a pleiotropic gene. The underlying mechanism of pleiotropy in most cases is the effect of a gene on metabolic pathways which contribute towards different phenotypes. An example of this is the disease phenylketonuria, which occurs in humans. The disease is caused by mutation in the gene that codes for the enzyme phenyl alanine hydroxylase (single gene mutation). This manifests itself through phenotypic expression characterised by mental retardation and a reduction in hair and skin pigmentation.