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 Empire || Works of Art || Resources || Back to: NMAfA past exhibits. From A.D. 700 to 1600 the ancient empires of Ghana (700-1100), Mali (800-1550) and Songhay (1300-1600) controlled vast areas of West Africa (see map and time line). Although each empire rose to assert its power, they coexisted independently for centuries.