Before Transistor there were Vacuum tubes which are bulky and fragile, To replace them Transistor is Invented In Bell Lab.
The committee within Bell Labs that was set up to standardize terminology across the company were unable to decide on a name for it, so, they held a ballot across the entire company to vote for the name. “Semiconductor triode”, “Surface States triode”, “Crystal triode”, “solid triode”, “Iotatron” and “Transistor” were the choices. “Transistor” won the ballot.
The Name Transistor is Derived from “Transfer of Resistor”
Transistor has two p-n junction, One is forward bias have low forward resistance and other is Reverse bias have high forward resistance hence Signal flows from Low resistance path to High Resistance path called Transfer of resistance.
To Under Stand the Transistor, Simple example of Water tap. As Shown in the Diagram Water flows from the Emitter to Collector and water flow controlled by the gate.