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.
The government of the Mali Empire was led by the emperor who was called the Mansa. The empire was then divided up into provinces that were each led by a governor called a ferba. The religion of Islam played an important part in the government and many of the government administrators were Muslim scribes.