Why the name 'FACTORIAL'? Factorial is defined as 
$n! = n(n-1)(n-2)\cdots 1$
But why mathematicians named this thing as FACTORIAL?
Has it got something to do with factors?

Below is the etymology, from Jeff Miller's Earliest Known Uses of Some of the Words of Mathematics (F). Perhaps a native French speaker can lend further insight.

FACTORIAL. The earlier term faculty was introduced around 1798 by Christian Kramp (1760-1826).
Factorial was coined (in French as factorielle) by Louis François Antoine Arbogast (1759-1803).
Kramp withdrew his term in favor of Arbogast's term. In the Preface, pp. xi-xii, of his "Éléments d'arithmétique universelle," Hansen, Cologne (1808), Kramp remarks:
...je leur avais donné le nom de facultés. Arbogast lui avait substitué la nomination plus nette et plus française de factorielles; j'ai reconnu l'avantage de cette nouvelle dénomination; et en adoptant son idée, je me suis félicité de pouvoir rendre hommage à la mémoire de mon ami. [...I've named them facultes. Arbogast has proposed the denomination factorial, clearer and more French. I've recognised the advantage of this new term, and adopting its philosophy I congratulate myself of paying homage to the memory of my friend.] 

