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 Empire of Mali was founded in the mid 1200s and lasted through the late 1400s. Ancient Mali was located in western Sudan. The name Mali means âwhere the king residesâ or âhippopotamus.â The people of Mali were called Mandinkas, Malinkes, or Mandingoes.HANA Ghana was the first great African empire of the western Sudan. Historians believe that a group of people called the Soninke founded Ghana as early as the year 300 and it thrived until around 1200. Ghana became known for its rich culture, wealth, organization, and power.