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.
At the bottom of the social hierarchy were the captured slaves. Sunni Ali Map of Songhai This map shows the Songhai Empire in West Africa. The empire consists of what are now Burkina Faso, Gambia, Guinea, Mali, Mauritania, Niger, and Senegal. The founder of Songhai, Sunni Ali, took over the throne in 1464.