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The estimation of output supply and inputs demand in farming sector with the assumption of full economic efficiency may result in false policy decisions. This article investigates the effects of irrigated wheat economic inefficiency on output supply and inputs demand in the period 2001-2009. After estimating the economic inefficiency by the use of production and cost stochastic models, the output supply and inputs demand of irrigated wheat are obtained through seemingly unrelated regression method. Results show that technical, allocative and economic inefficiency in irrigated wheat production in Iran are 21, 23 and 38 percent respectively. Moreover, the slope of output supply function is strongly affected by the related economic inefficiency in profit function and inefficiency changes input’s demand coefficients. Results also show that technical inefficiency has a greater effect on inputs demand compared to the allocative inefficiency.

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"Market efficiency" is the basic axiom of Financial Economics and fondamental base for ability of optimal allocation (of financial resources) in a capital market. Vast and extensive studies around Market efficiency in recent decades, has induced strong evolutions in economist’s perception from a Market efficiency, methods of assessing and their implications in real world. This essay attempts to procure a concise leterature review of these evolutions. Results show that applied methods in Iran are incomplete in regard with new addvancements in foreign studies. So, weak form efficiency of Tehran Stock Exchange is reevaluated using new method of H statistic of Hinich. Results of empirical study shows that weak form efficiency is rejected for all the sample as a whole. But, market efficiency would be in evolvotion in studied periods based on used H statistic in this article. Also, market efficiency experienced an stationary improvement  from 2005.