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 Mali Empire (Manding: Nyeni[5] or Niani; also historically referred to as the Manden Kurufaba,[1] sometimes shortened to Manden) was an empire in West Africa from c. 1230 to 1670. The empire was founded by Sundiata Keita and became renowned for the wealth of its rulers, especially Musa Keita.