Final answer:
High-end products and services suggest superior quality and luxury due to the perception that price signals quality, influencing consumer behavior and expectations.
Step-by-step explanation:
When discussing high-end products and services, we are often referring to those that are expensive and accompanied by the expectation of superior quality and luxury. It is common for customers to equate higher prices with better standards based on the perception that cost and quality are directly correlated. This presumption, while not universally accurate, relies on the concept that the price acts as a signal of quality, influencing consumer behavior and expectations.
Historically and in modern society, members of the upper class are accustomed to indulging in goods and services that exemplify extravagance and comfort. For instance, it's exemplified that one would expect an automobile with an interior adorned with silk tapestries, jewels, and a background of cloth of gold, to not only reflect luxury but also excellence and higher quality, reinforcing the association between price and standard.