There are many factors AFAIK, mostly trade-offs. The compound of the rubber can be soft to give good grip or hard to give longevity. The construction can have plenty of sidewall stiffness to give good handling or less so to give a more comfortable ride. The tread pattern can be designed to have minimum movement to give good handling, best water dispersal for wet weather performance or to make them quiet (drive at 30 with Yoko AO48's and you'll see how much difference it can make!) Price will be affected by the quality and quantity of materials used, demand, volume produced, etc.
So, you could buy a small tyre with a hard compound rubber, soft construction made in it's millions to a "normal" design in the far east that will last for ever, but not necessarily give you much grip or feel. Alternatively, you could spend more on a soft compound, race carcass style tyre made in much smaller volume in a European or Japanese factory that has had much more spent on R&D to come up with an advanced design that'll go around the track several seconds quicker and give much more feedback.