The Gunners are among the teams who are looking to strengthen in several positions before the window shuts next Monday night.
Arteta spoke about transfers after the team's 3-1 defeat to Liverpool in the Premier League on Monday.
The Gunners are linked with moves for Houssem Aouar and Thomas Partey, among other players.
"There is a week to go. I think it is going to be really busy for all the clubs because not much business has been done, so let's see what happens," he told reporters.
"I think it is going to be really busy for the Premier League, I don't know for us how it is going to happen."
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