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 (Manding: Nyeni; English: Niani), also historically referred to as the Manden Kurufaba, was a Mandinka/Bambara empire in West Africa from c. 1230 to c. 1600. The empire was founded by Sundiata Keita and became renowned for the wealth of its rulers, especially Mansa Musa.