Dynamic pick list there is no bounded and unbounded options Bounded and unbounded is available only static in static bounded pick list we can't able to enter the values
Bounded vs unbounded function is applicable static Picklist, where values are based on LOV (List of Values). If the piclist is bounded, the user can only select values from dropdown; if not bounded, the user can enter any value not in LOV?in addition to the LOV values.
Dynamic Picklist on the other hand is based on a BC?changing data, hence dynamic.