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.
Encompassing all or part of the modern nations of Mauritania, Senegal, Gambia, Guinea, Mali, Burkina Faso, Niger, Nigeria, and Chad, at its height in 1300, Mali was one of the largest empires in the world. The Mali Empire was strategically located between the West African gold mines and the agriculturally rich Niger River floodplain. Maliâs rise begins when the political leaders of Ghana could not reestablish that empireâs former glory following its conquest and occupation by the Almoravids in 1076.