When you try to install new python environment on Linux instance follow the steps are,

$ sudo wget https://www.python.org/ftp/python/3.4.6/Python-3.4.6.tgz

$ sudo tar xf Python-3.4.6.tgz 

$sudo  ./configure 
checking build system type... x86_64-unknown-linux-gnu
checking host system type... x86_64-unknown-linux-gnu
configure: error: in `/home3/mikos89/Python-3.4.6':
configure: error: no acceptable C compiler found in $PATH
See `config.log' for more details.

You need to install necessary packages based on your operation systems, just looks below commands,

Solution :

For Ubuntu / Debian :

# sudo apt-get install build-essential


For RHEL/CentOS

Check the packages whether have installed or not?

#rpm -qa | grep gcc



# yum install gcc glibc glibc-common gd gd-devel -y

or
 # yum groupinstall "Development tools" -y


For more information refer this Link: