Identify which application is reading/writing on the hard drive

Identify which application is reading/writing on the hard drive Is there a similar tool to Windows 7 Resource Monitor in OS X that can show me how many I/O operations are being performed for each active process?
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Guest [Entry]

"You can open a wide Terminal window and enter the command:

sudo fs_usage -f filesys

This will show all filesystem activity on the system, as it occurs. It will show not only which processes are accessing the filesystem, but also what they are doing."