Can you answer this iTunes (Mac) question?

I have three accounts on my Macbook. One is the admin, two do not have admin privileges. I only have one iTunes library, and it is on one of the non-admin accounts.

What is the best way to share the one library with all three accounts—as in it doesn’t matter which account I’m on, if I open iTunes, the same music will be there?
p.s. Will it all be synced?