It is based on the short story of the same name by Lewis Padgett (Henry Kuttner and C. L. Moore), which was published in the October 1945 issue of Astounding Science Fiction magazine.
Spying what happened, a frustrated, arrogant, and unsuccessful man named Fred Renard asks Pedott to give him what he needs and receives a pair of scissors.
When he again demands something he needs from Pedott, he receives a leaky fountain pen, which predicts a winning racehorse after its last drop of ink falls on a newspaper racing column.
Unable to use the pen to predict any further winners, Renard angrily confronts Pedott, who reveals that he only provides items that people need to use once and that he cannot supply things such as serenity and peace of mind.
In the story, the man owns a shop where he has such a machine and then gives people what they need to provide the best possible outcomes; also, the Renard character is killed not by a car but by falling off a subway platform while a train is coming into the station.
This version of the story aired on a 1952 episode of the anthology series Tales of Tomorrow, changing the death of the Renard character from a fall to being hit by a car.