The Gunners are expected to make improvements in all areas of the field and could target a new big-name striker ahead of Alexandre Lacazette and Eddie Nketiah's exits.
A move for Manchester City's Gabriel Jesus has been mooted, but the Premier League leaders are thought to be holding out for a fee of £50m to part ways with the Brazilian.
Leicester City's Youri Tielemans would likely demand at least £25m to leave the club with his contract up in 2023, and a fee in excess of £20m will supposedly be required to strike a deal for Bologna's Aaron Hickey.
Arteta expects Arsenal to be busy in the summer market, but the 40-year-old has played down suggestions of the club splashing the cash on multiple big-money signings.
"We are going to have certain resources, not unlimited resources, certain resources," Arteta told the media ahead of Sunday's Premier League final-day showdown with Everton.
"With those resources we have to play and do what we have to do in the best possible way. We don't know what the other teams will have in terms of resources but it will be challenging. It is not a top three or top-four league anymore, it is a top eight or 10."
Arsenal are thought to be on the verge of sealing a deal for Sao Paulo attacker Marquinhos for a £3m fee, but Arteta refused to comment on the rumours when asked by reporters.
The Gunners sit two points behind Tottenham Hotspur in the race for Champions League football but are guaranteed to finish no lower than fifth, which would hand them a spot in the Europa League.
Arsenal must hope for 20th-placed Norwich City to get the better of Tottenham on Sunday, and Arteta has claimed that everyone at the club will be cheering the Canaries on to produce a shock result.
"We are back in Europe, we don't know where, tomorrow it will be decided and hopefully it will be Champions League," Arteta added. I believe that tomorrow, we are going to do what we have to do, and we are going to be cheering for Norwich to do what they can do for sure.
"After that, we are going to take the club to the next level. There are no secrets, we need resources and we need to increase the depth and quality of the squad. Hopefully, tomorrow in front of our people we can have another great day.
"It's been a long journey and a very challenging one this season but I think we have come a long way as a club. As a team I think we have transformed the energy of the club and we've done it together. We've done it together with our people. Now I can sense I have the support to take the next step."
Tottenham have reportedly been hit with a scare over Harry Kane ahead of their trip to Carrow Road, with the England captain pulling out of media duties as a precaution due to illness, but there is not thought to be a wider viral outbreak at the club.