Quantitative inheritance, also known as polygenic inheritance, involves multiple genes contributing to a single trait, resulting in a continuous range of phenotypes. Incomplete dominance occurs when a heterozygote displays a phenotype that is a blend of the two homozygous phenotypes, leading to a different phenotypic ratio than complete dominance. The document discusses examples of traits influenced by quantitative inheritance, such as human height and skin color, and emphasizes the role of environmental factors in trait expression.