Discuss, using real world examples, that the most effective way in which the government can discourage the consumption of demerit goods is through government regulations. Please fulfill these all requirements

The specific demands of the question are understood and addressed. Relevant economic theory is fully explained. Relevant economic terms are used appropriately throughout the response. Where appropriate, relevant diagram(s) are included and fully explained. The response contains evidence of effective and balanced synthesis or evaluation. A relevant real-world example(s) is identified and fully developed to support the argument