Okay, the basics....
The closer you get to zero ohms the more power your amp will give. Although many Amps will only allow you to safetly go to 4 ohms, before they overload / protection circuitry kicks in. However the lower (in numerical figure) your ohms are, the more power your amp will deliver.
For instance take a typical 250W per channel amplifier...
250W RMS @ 4 Ohms
160W RMS @ 8 Ohms
95W RMS @ 16 Ohms
Anything between 4 - 16 ohms is okay, however I wouldn't go below 4 ohms - unless you amp states that its " 2 Ohms Stable" or anything above 16 ohms either since you may as well be running an hi fi amp.
Connecting a 4 ohm and 8 ohm speaker in parallel (Simply plugging each speaker into a socket of the amp / other speaker) is risky - the resulting impedance is below the typical 4 ohm threshold handled by the majority of amps.
I don't really recommend connecting mixed impedance speakers to any amplifier as it would ultimately make one speaker (the 4 ohm) louder than the other, and can make a system a little unstable. The majority of speaker drivers for professional use are 8 ohms as standard. There are drivers made by eminence / celestion which are available in 4 ohms and cabs by Carlsbro which can be obtained in 4 ohm impedance. However these are the exception rather than the rule

. Commonly 4 ohms drivers are used in Car / Hi-Fi / Surround sound applications, so please check that the driver is made for this sort of use.
If your amp is a 4 ohm variety (most are) then only connect the one 4 ohm speaker to it and this will deliver its full rated power in any case. If you really must use this configuration then ensure that you wire the 4 ohm cab in SERIES with the 8 ohm one. However the impendence will increase from 4 ohms to around 6 ohms and the power from your amp is likely to decrease slightly as well - so you are actually better off (power wise) using the one 4 ohm speaker connected, rather than series connecting the 4 and 8 ohm together.
If you need two cabs per channel and don't want the hassle of series wiring - then just get 2 speakers each rated at 8 Ohms impedance.
I have attached a file detailing the wiring combinations. Its written for the hi-fi industry but the content is valid for pro and p.a use as well.