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.
Origin: Inherits its name from the Mali Empire, in turn from or mali. Mali. Mali, officially the Republic of Mali, is a landlocked country in West Africa. Mali is bordered by Algeria to the north, Niger to the east, Burkina Faso and CÃ´te d'Ivoire to the south, Guinea to the south-west, and Senegal and Mauritania to the west. Its size is just over 1,240,000 square kilometres with a population of 14.5 million. Its capital is Bamako.