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.
Mali is a large, landlocked country in West Africa with more than 1.24 million square kilometers (480,000 sq ft) of land. In 2012, an armed conflict broke out and Tuareg rebels took control, declaring secession of a new state, Azawad. While it was recaptured, negotiations are expected to take place.