ISO (the sensitivity of the image sensor) should be as low as possible with the given light. Pay attention to your meter, it will help you decide.
Here's how I determine my settings. I decide how much Depth of Field (DOF) I need. I then set my aperture to a value that should get me close to that DOF (you'll need to read about aperture or experiment to get used to what values give you how much DOF).
Once I have my aperture set, I decide if I need a fast shutter speed. If I'm taking a picture of something moving, or don't have a tripod with me, I'll need a fairly fast shutter. So I set my shutter speed as slow as I think will still render the image well. Then I look at the meter.
Based on what the meter shows (too dark, too light), I determine my ISO. Start with your lowest ISO setting (usually 100 or 200). If your meter is to the left of center, the image will be dark, so you'll need to increase ISO. Keep doing that until the meter is at the center mark. If the meter is to the right (too bright), then up the shutter speed to compensate.
That's not how everyone will do it. That's just how I do it.