Conventional price elasticity of demand is a simplistic and elementary formula that has mathematical and economic deficiencies when applied to price (rates) and demand (balances) of deposit products: It does not recognize inverse relations between price and demand.
At its peak in 1300, the Mali Empire covered an area about twice the size of modern-day France and stretched to the west coast of Africa. In the late 19th century, during the Scramble for Africa, France seized control of Mali, making it a part of French Sudan.
Mali is next to Algeria, has Niger on its east border, and is Guinea on the south-west. The countryâs economy is based on agriculture and fishing, and some of Maliâs natural resources include gold, uranium, and salt. Mali is also considered one of the poorest nations in the world.ali is next to Algeria, has Niger on its east border, and is Guinea on the south-west. The countryâs economy is based on agriculture and fishing, and some of Maliâs natural resources include gold, uranium, and salt. Mali is also considered one of the poorest nations in the world.