An economy where the workforce involved in Design, Development, Technology, Marketing, Sales and Services is known as:

Knowledge economy

The correct answer is Option (1) → Knowledge economy

A knowledge economy is one in which much of the workforce is involved not in the physical production or distribution of material goods, but in their design, development, technology, marketing, sale and servicing. It can range from the neighbourhood catering service to large organisations involved in providing a host of services for both professional meets like conferences to family events like weddings.