OK, with lenses there a number of things to consider:
1. Speed - what is the maximum aperture? This is the f/ number (sometimes a range with a zoom. The wider the aperture opens, the lower the f/ number. Currently, Canan make two superfast lenses, the 50mm f/1.2 and the 85mm f/1.2. This means the aperture opens to the focal length of the lens (say 50mm) divided by the f number. With the 50mm example, this means the aperture opens up to 41.7mm - thats a LOAD of light that gets in. More light = faster shutter speed and lower ISO. It also controls the depth of field of focus. Wide open (maximum aperture) , a 50mm f/1.2 will have only about a couple of mm of scene in sharp focus from a distance way of 5 metres. closed down to f/22 hardly any light gets in, so long shutter speed, but you can then measure what is in focus in lots of cm.
2. Construction - the cheaper lenses with have a plastic lens mount. These suffer becuase plastic will wear down over time and foreign bodies get into your camera, messing with the fragile parts. The best will be constructed of metal and have a weather seal.
3. Image Stabiliser - to save too much waffle, suffice to say a gyroscopic motor adjusts a set of internal lenses to counteract camera shake. You can then hand-hold a camera with slower shutter speeds.
4. Price - the cheapest Canon lens is the 50mm f/1.8 (nifty fifty) which is roughly £60 GBP. As you may imagine, its plastic and the f/1.8 is nothing special for a lens of this range. The most expensive is the 600mm F/4 IS L going at £5500 GBP (the 800mm comes out soon, closer to £9000 GBP!!). As with most things, you get what you pay for in terms of build and quality :shrug:
5. Optics - worth a whole chapter to themselves. Ultra low dispersion glass, ground fluorite, etc. All designed to correct the image hitting your camera sensor in terms of light wavelength and to stop the light bouncing from your sensor, the the lens and backagain, which cases lens flare and ghosting with loss of contract.
3rd party lenses - Sigma, Tamron, Tokina, etc will afford almost as good IQ as Canon (in my opinion) but at a lower cost (generally). Remember that 3ed parties are reverse engineered rather than licensed.
I could go on, but you must be bored already by now!!