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.
Early West African States and the Caravan Trade. Mali was not the first empire to occupy the large grasslands region of West. Africa that straddled the Sahara, the semiarid edge of the desert known as the. âSahelâ (literally the âshoreâ of the great ocean of sand, in Arabic) and the. inland delta of the Niger River.