what were factors and why were they called so ?

Dear Student,

Here is the answer to your question.

Factors were the traders of East India Company. They were called so because they controlled and operated from the factories of the East India Company. The factory consisted of a warehouse for storing the goods to be exported and offices for Company officials. The first English factory was set up on the banks of river Hugli in 1651.

Hope this resolves your query.

Cheers