Let $P_o$ be the primes excluding $2$. $P_o \subset \mathbb{N}$ has the following property $Q$:
- For any $a,b \in P_o$, $a + b \not\in P_o$.
- For any $a,b \in P_o$, $ab \not\in P_o$.
So both addition and multiplication necessarily leave the set $P_o$.
$P_o$ has natural density $0$.
Q1. Is there a set $S \subset \mathbb{N}$ with positive density that satisfies property $Q$?
Answered quickly by @JoséCarlosSantos: Yes. Permit me then to add a new question:
Q2. What is largest density $S \subset \mathbb{N}$ that satisfies property $Q$?
Santos's example has density $\frac{1}{3}$.
New answer:
Kurlberg, Lagarias and Pomerance, On sets of integers which are both sum-free and product-free (arXiv:1201.1317) answers the question. The upper density of any such set is strictly less than 1/2, but can be arbitrarily close to 1/2. I don't see that they state this explicitly in the paper, but it follows pretty quickly from Theorem 1.3.
Explicitly: Theorem 1.3 implies that for any $\varepsilon>0$ there is some $n$ and some subset $S\subset\mathbb{Z}/n\mathbb{Z}$ of residue classes that is sum-free and product-free consisting of at least $(\frac{1}{2}-\varepsilon)n$ classes. Then taking all integers in those residue classes gives a product-free sum-free set of integers of density at least $(\frac{1}{2}-\varepsilon)$.
Old answer:
Andrew Treglow's talk On sum-free and solution-free sets of integers cites the following result of Deshouillers, Freiman, Sós and Temkin (1999):
Therefore, if the density of a sum-free product-free set $P$ of integers is greater than 2/5, then $P\cap[n]$ must fall in the second case for sufficiently large $n$. (We can't be in the third case because $\min(P)<2n/5$ for sufficiently large $n$.)
So, the only way we could hope to do better than 2/5 is to use only odd numbers, and as a corollary the highest density we could hope for is 1/2.
In fact, the proof of Remark 2.7 of Kurlberg, Lagarias and Pomerance, Product-free sets with high density carries over to the case of only odd numbers, showing that we cannot attain a density of 1/2. For completeness, we repeat the argument here with the appropriate modifications: Let $a$ denote the least element of $P$, and let $P(x):=P\cap[1,x]$. Since $P(x)\setminus{P(x/a)}$ lies in $(x/a,x]$, $\lvert P(x)\rvert\le \lvert P(x/a)\rvert+\frac{x-\lfloor x/a\rfloor}{2}+1$. Also, multiplying each member of $P(x/a)$ creates products in $[1,x]$ which cannot lie in $P$, so we have $\lvert P(x)\rvert\le \frac{x}{2}+1-\lvert P(x/a)\rvert$. Adding these two inequalities and dividing both sides by 2 gives $\lvert P(x)\rvert\le \frac{x}{2}-\frac{\lfloor x/a\rfloor}{2}+2$, which implies that the upper density of $P$ is at most $\frac{1}{2}-\frac{1}{2a}$.