Dynamic Scheduling is the mechanism where thread scheduling is done by the operating systems based on any scheduling algorithm implemented in OS level. So the execution order of threads will be completely dependent on that algorithm, unless we have put some control on it (with static scheduling).
Static Scheduling is the mechanism, where we have already controlled the order/way that the threads/processes are executing in our code (Compile time). If you have used any control(locks, semaphores, joins, sleeps) over threads in your program (to achieve some goal), then you have intended to use static (compile time) scheduling.
I think the term 'advantages' would not be the best term here. Simply when you are implementing any control over threads with your code to achieve some task, you should make sure that you have used minimal controls and also in most optimized way
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