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 became Islamic in the early 14th century, under Musa I of Mali. From that time until the 19th century, Timbuktu remained important as an outpost at the southwestern fringe of the Muslim world and a hub of the Arab slave trade. Mandinka from c. 1230 to c. 1600. The empire was founded by Sundiata Keita and became known for the wealth of its rulers, especially Mansa Musa I. The Mali Empire had many profound cultural influences on West Africa, allowing the spread of its language, laws and customs along the Niger River.